The funds will be used to support the platform’s long-term growth and product development which aims to modernise the futures market, according to the LSEG.

CurveGlobal has traded more than 2.2 million lots since it launched in 2016 and over 10% of volume has come in the last 29 trading days.

“We’ve been working in partnership with customers to improve choice and drive much-needed competition in the futures markets,” said Andy Ross, CEO at CurveGlobal.

“The strong interest in this funding round is a clear example of how well this strategy has been received, and CurveGlobal remains open for any additional partners who are looking to collaborate in this manner.”

Mark Hemsley, president for Europe at Cboe and CurveGlobal board member, added the closing of the funding is a testament to the value investors see in the platform.

“Now is an opportune time for a new global interest rate marketplace and CurveGlobal represents a compelling trading alternative that offers new interest rate products, increased trading efficiencies and reduced transaction costs,” he said.